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Greeks Hold National Strike Over Budget Cuts (Update1) Greece’s hospitals, airports and schools were shut today as unions stage the second general strike this year to protest Prime Minister George Papandreou’s latest budget cuts to curb the European Union’s biggest deficit.

Volkswagen Aims to Repeat Record Sales in 2010; Shares Rise Volkswagen AG, Europe’s largest automaker, is targeting a second consecutive record in global deliveries this year after two-month sales surged 27 percent, helped by growing demand in emerging markets.

Hold Cash, Shun Risk as ‘General Correction’ Looms, HSBC Says Global financial markets are yet to bottom and investors should hold cash, investment-grade debt or defensive stocks to ride out a coming “general correction,” according to HSBC Holdings Plc.

Fiat May Need to Convince on Chrysler Before Auto IPO (Update1) Fiat SpA, the Italian carmaker that helped Chrysler Group LLC emerge from bankruptcy, may wait to turn around the U.S. business before deciding on a share sale or spinoff for its automotive division.

Airline Loss Estimate Halved to $2.8 Billion on Traffic Rebound Airlines worldwide will lose a collective $2.8 billion this year, half the previous forecast, as emerging markets lead a rebound in traffic, the International Air Transport Association said today.

HSBC’s Private Bank Reports Data Theft on 15,000 Swiss Accounts HSBC Holdings Plc’s Swiss private bank said it suffered “serious data theft” affecting about 15,000 Swiss-based accounts.

BP Pays $7 Billion for Devon Assets in Brazil, Gulf (Update1) BP Plc, Europe’s largest oil and gas company, will pay Devon Energy Corp. $7 billion for assets in Brazil, the Gulf of Mexico and Azerbaijan, adding fields that may extend its production lead over Exxon Mobil Corp.

Palestinians Condition Talks on Israel Revoking Building Plans Palestinian Authority President Mahmoud Abbas told the U.S. that holding indirect talks with Israel “will be difficult” unless Israeli plans to construct new homes in east Jerusalem are revoked.

Nomura Departures Rise as Former Lehman Bankers Leave (Update2) Nomura Holdings Inc.’s vice chairman of China investment banking and head of equity capital markets for Asia outside Japan left the Tokyo-based company, according to people with knowledge of the departures.

HSBC Private Bank Suisse Says 15,000 Affected by Data Theft HSBC Private Bank (Suisse) SA says it has suffered “serious data theft” affecting about 15,000 Swiss-based accounts. The bank said it doesn’t believe the stolen data has, or will, allow any third party to access client accounts.

Iran Oil Fund to Expand If Crude Stays Above $65 (Update1) Iran will increase the balance of its oil stabilization fund if crude prices remain over $65 in the new Iranian year starting in late March, the country’s deputy central bank governor said.

Metals, Oil Fall on Surge in China Inflation; Asia Stocks Rise Metals and oil dropped, while the yen and dollar strengthened, after reports on Chinese inflation, factories and loans raised concerns the government would take steps to brake growth. Asian stocks advanced, led by Japanese shares, on speculation the economy is recovering.

Bond Spreads at Narrowest This Year Lure GMAC: Credit Markets Corporate bond yields fell to the lowest this year relative to benchmark government securities, luring GMAC Inc. to sell its longest-maturity notes since 2004.

Devon Energy Agrees to Sell Assets to BP for $7 Billion Devon Energy Corp. said it agreed to sell assets in the Gulf of Mexico, Brazil and Azerbaijan to BP Plc for $7 billion.

SNB May Keep Main Rate Near Zero as Economy Recovers (Update1) The Swiss central bank may leave its benchmark interest rate near zero today to bolster a recovery from the worst recession in more than three decades.

Copper May Gain to Record on Chinese Demand, Sucden Forecasts Copper may rise to a record this year, possibly surpassing $9,000 a metric ton, driven by larger- than-expected imports by China and a revival of demand in Europe and the U.S., according to Sucden Financial Ltd.

China’s Inflation Quickens as Industrial Production Climbs China’s inflation reached a 16- month high, industrial output climbed and new loans exceeded forecasts, adding to the case for the government to pare back stimulus measures.

Union Favors Lebanon, South Africa Bonds on Local Bank Support Union Investment Privatfonds, Germany’s third-largest money manager, favors bonds sold by developing nations with active local investors in foreign debt on concern the global new-issues market will be “overcrowded.”

China Tightens Land Purchase Rules, Bans Villas (Update2) China is requiring a down payment for land purchases equal to 50 percent of a plot’s price and prohibited the supply of land for villas as the government sought to increase affordable housing.

Korean Air, Asiana Fined for Blocking Budget Carriers (Update1) Korean Air Lines Co. and Asiana Airlines Inc., the nation’s two biggest carriers, were fined a combined 11 billion won ($9.7 million) for anticompetitive actions against start-up budget carriers.

Putin Visits India in Race With U.S. for Arms, Nuclear Deals Russian Prime Minister Vladimir Putin arrives in New Delhi tonight to fend off competition from the U.S. and Europe to supply arms and nuclear energy to India.

Senate Talks Said to Advance on Consumer Unit Powers, Oversight Senate negotiators closed in on a deal for strengthening consumer financial protections, giving bank regulators a role in rule-making and enforcement, two Democratic Senate aides briefed on the talks said.

Berkowitz Gets ‘Long Leash’ at Fairholme to Pursue Mall Offer Bruce Berkowitz’s bid to help take mall owner General Growth Properties Inc. out of bankruptcy isn’t the first time the manager of the $11.2 billion Fairholme Fund has strayed from conventional mutual-fund investing.

Fed Shoulders AIG Loan Losses to Ease Sale of Unit to MetLife The Federal Reserve Bank of New York and American International Group Inc. agreed to shoulder as much as $450 million in losses tied to the insurer’s Japan real estate bets as part of the sale of a division to MetLife Inc.

Food Recalls From Salmonella May Increase to 10,000 Products Salmonella contamination at a Nevada food-flavoring plant may trigger the recall of as many as 10,000 products, according to a Consumers Union scientist.

P&G’s McDonald Pins Growth on Closer Shave Than Mumbai Barber Procter & Gamble Co.’s Bob McDonald is going undercover in Latin America next week.

Obama Says Curbing Waste, Abuse Will Help Fund Health-Care Plan President Barack Obama made his case for an overhaul of the U.S. medical system to Missouri voters, emphasizing his efforts to curb waste and fraud in government health programs.

Nissan’s Ugly Cube Exudes Gen Y Dorky Coolness: Jason H. Harper Man is that thing ugly. Not just homely -- willfully, thoughtfully, ugly. I kind of like it.

Damon Searches for Chemical Weapons; Wedding Follies: Movies What manic thriller directed by Paul Greengrass stars Matt Damon as an obsessed man caught in a web of political intrigue, gunplay and spine-tingling chases?

Trade Deficit in U.S. Probably Widened as Imports Increased The U.S. trade deficit probably widened in January for a third month as imports grew faster than exports, pointing to a rebound in global economic growth, economists said before a report today.

Economy in U.S. to Cool as Drivers of Growth Shift, Survey Says Efforts to stabilize inventories will contribute less to the U.S. economy in coming months, leaving business investment and exports to propel growth, according to economists surveyed by Bloomberg News.

Personalized Medicine Spurred by Medco’s Cost-Saving Gene Tests Medco Health Solutions Inc., the second-biggest U.S. manager of drug benefits, is encouraging doctors to use genetic tests to determine whether drugs will work for particular patients -- saving money and reducing harm caused when prescriptions are wrong.

Naked Swaps Crackdown in Europe Rings Hollow Without Washington European politicians and regulators could initiate a continent-wide ban on speculative trading of sovereign credit-default swaps tomorrow. Making it stick without the Americans won’t work.

Unions Map ‘Make Wall Street Play’ Blitz on Goldman, U.S. Banks AFL-CIO President Richard Trumka listened to Andres and Esteban Contreras tell how Andres moved back home to help with rent and medical care after their father lost his job and their mother had her hours cut.

Dollar Will Retain Reserve Role If Markets Stay Sound, S&P Says The dollar will retain its status as the world’s reserve currency as long as U.S. financial markets are sound and government spending is sustainable, Standard & Poor’s said.

Pimco’s El-Erian Says Public Finance Shock May Deepen (Update3) Mohamed A. El-Erian, whose company runs the world’s biggest mutual fund, said deteriorating public finances may affect the global economy more than is currently realized.

Yen, Dollar Rise as China CPI at 16-Month High; Aussie Weakens The yen and dollar rose versus their major counterparts after Chinese reports on inflation, factories and loans fueled concern the government will act to damp growth, boosting demand for the lowest-yielding currencies.

Shinsei Said to Mull Canceling Merger, Selling Shares (Update2) Shinsei Bank Ltd., the Japanese lender backed by U.S. investor Christopher Flowers, may raise 75 billion yen ($830 million) selling shares instead of merging with Aozora Bank Ltd., said a person with direct knowledge of the matter.

JR East Sells Bonds at Narrowest Spread Since 2006 (Update1) East Japan Railway Co., the nation’s largest rail operator, raised 15 billion yen ($166 million) from 10-year bonds priced at the narrowest yield spread over benchmarks in four years.

Asia’s Billionaires Set World-Beating Pace, Forbes Says Asian billionaires including India’s Mukesh Ambani and Hong Kong’s Li Ka-shing increased their wealth as the region’s rich expanded their fortunes at the world’s quickest pace in the past year, Forbes magazine said.